If you've only got a single value you need to insert, you can use Binding's StringFormat property. Note that this requires .NET 3.5 SP1 (or .NET 3.0 SP2), so only use it if you can count on your production environment having the latest service pack.
<TextBlock Text="{Binding Name, Mode OneWay, StringFormat=Hi, {0}}"/>
If you wanted to insert two or more different bound values, I usually just make a StackPanel with Orientation="Horizontal" that contains multiple TextBlocks, e.g.:
<StackPanel Orientation="Horizontal">
<TextBlock Text="Good "/>
<TextBlock Text="{Binding TimeOfDay}"/>
<TextBlock Text=", "/>
<TextBlock Text="{Binding Name}"/>
<TextBlock Text="!"/>
</StackPanel>